Uchain - Decentralise sharing ecosystem
Sharing economy is a fast growing sector which have not been fully utilized. It entails sharing of services, data or information between parties; user and the service provider.
The growth and full exploitation of this industry has been impeded with many challenges ranging from data security issue, inflated cost associated with transaction in the ecosystem, and lack of trust.
High cost of transaction is one of the major issue in the sharing economy as most traditional firms in this ecosystem tries to take optimum profit and this incurred higher cost for the users.
Trust issue is another big challenge obstructing utilising the potentiality of this great industry. Any venture that involves two or more parties there must be a mutual understanding and trust before the venture can move forward and sharing economy is not an exception. They attempt solving this issue of trust by bringing in third party which will serve as intermediary but instead of solving the issue it raised more issue which is high cost of transaction.
In recent times, there has been an increased cyber attacks in most platform that are connected to the Internet because of the centralised data storage system and most of the attacks resulted to security breach and data leakage. This security breach and data leakage has been a major concern in sharing economy as they use a centralise database and most times sensitive information are left in the hands of this attackers which they used for identity theft and other criminal activities.
After seeing all these challenges, uchain have taken a bold step forward to rescue the almost helpless users and bring sanity to this sharing ecosystem by establishing a Decentralised platform with help of blockchain technology.
Uchain with the integration of blockchain technology will offer a truly Decentralised platform to the public. Transaction between user and service provider will be direct or peer to peer and this eliminate the middleman and the transaction cost accrued to him.
Blockchain, a Decentralised distributed ledger network store the record of transactions, users data and personal information on different nodes which can be traced but can't be tampered or access by the hackers bringing transparency and trust in the ecosystem.
Uchain try to revolutionised the sharing economy by introducing a new concept which have not been seen in the sharing economy. Unlike the current faulty sharing economy which is regarded as "sharing economy 1.0" UChain try to build a sharing economy 2.0 by building a blockchain Base platform which is truly Decentralised peer to peer platform where the relevancy of intermediary is completely eliminated giving the entire ecosystem back to the users and service providers.
The UChain ecosystem comprises of four different layers; core blockchain layer, API/SDK layer, service layer and application layer.
Uchain ecosystem
Users and developers are the major roles that drives the UChain ecosystem. The users comprises service users, independent service providers and Enterprise service providers. On the other hand developers create and maintain the infrastructure and they are independent developers or uchain foundation. Users are the core element in the ecosystem and can pay UCN for any service they like on the Decentralised application on uchain ecosystem or use peer to peer platform. Enterprise service providers can develop specialise dapp with uchain infrastructure to provide service on ecosystem and will be paid a matching amount of UCN. Independent developers are the backbone of the ecosystem. They employ blockchain technology to build an open and trustworthy ecosystem. Other capable developers or organisation can also participate in building the infrastructure or Decentralised application.
Uchain platform will have a reward program with UCN where different contributors, individuals or organisations will be rewarded by proof of activity algorithm.
The platform will implement a urc-1 standard which can enable sharing service providers to issue and manage their own token.
The UChain platform will integrate digital assets registration platform which will be the entrance for assets holders to contribute to the UChain platform. User intelligent passport will also be integrated for security of users data and personal information.
Digital wallet will also be included in the UChain ecosystem to enable the users to store UCN and other urc-1 tokens. Decentralised exchange will be incorporated into the wallet so as to know the exchange rate of different assets stored in the wallet.
Uchain token
UCN is the UChain token which will serve as a central unit in the entire ecosystem. Anyone wishing to come in or out of the platform must buy or sell UCN token.
The platform will incentivized investors who keep and lock their token with UCP a staking reward of UCN.
Token sale
Roadmap
For more details about the project please visit the official project Website https://uchain.world
Project links
Website https://uchain.world
Telegram https://t.me/UchainEcosystem
Twitter https://twitter.com/UChainEcosystem
Medium https://medium.com/uchain
Written by ogbedi James
Bitcointalk username: valentyzer
Bitcointalk profile link https://bitcointalk.org/index.php?action=profile;u=2173652
Telegram username: @Jamesval1